The FIA has announced it will keep the Formula One entry list at 12 teams for 2011 and 2012, after deciding that none of the those bidding for a 13th entry next season met the necessary requirements.

Formula One racing’s governing body had received bids from numerous organisations after it invited expressions of interest from potential new teams back in March, following the late withdrawal of one of the new 2010 entries.

However, following Wednesday’s meeting of the World Motor Sport Council in Paris, the FIA said it would not be granting any new entries.

The FIA’s statement in full:
Following the press release of 19 March 2010 calling for expressions of interest to participate in the 2011 and 2012 seasons of the FIA Formula One World Championship, a number of interested parties expressed their interest. It was considered that none of the candidates met the requirements to be granted an entry into the Championship.

Consequently, the allocation of the 13th team will not be granted.

I am kind of bummed by this. It's too bad that ART cancelled its winning bid.